By Seung Lee | [email protected] | Bay Area News Group PUBLISHED: August 2, 2018 at 9:00 am | UPDATED: August 2, 2018 at 9:02 am CUPERTINO — Silicon Valley technology giant Apple on Thursday became the first public company in U.S. history to reach a $1 trillion market value, ahead of rapidly rising Seattle-based Amazon, after another strong quarterly earnings report and revenue outlook that lifted Apple’s shares. Apple reached its trillion-dollar market capitalization when its share price touched $207.05 at around 8:51 a.m. Thursday. Analysts calculated Apple’s market capitalization by multiplying the share price with the outstanding share count — or how many shares are currently in the market. Apple’s outstanding share count was at 4,829,926,000, according to the company’s 10-Q filing to the Securities and Exchanges Commission on Wednesday. The milestone is the culmination of Apple’s persistent growth and continued … [Read more...] about Apple becomes first U.S. company to reach $1 trillion market cap

Rising costs. Delayed shipments. A baffling bureaucracy. President Donald Trump's tariffs on imported aluminum and steel are disrupting business for American companies that buy those metals, and many are pressing for relief. Hundreds of companies are asking the Commerce Department to exempt them from the 25 percent steel tariff and the 10 percent aluminum tariff. Other companies are weighing their options. Jody Fledderman, CEO of Batesville Tool & Die in Indiana, says American steelmakers have already raised their prices since Trump's tariffs were announced last month. Fledderman says he may be forced to shift some production to a plant in Mexico in response to demands from his customers. On Wednesday, a group of small- and medium-size manufacturers gathered in Washington to announce a new group — the Coalition of American Metal Manufacturers and Users — to fight the steel tariff. The Trump administration last month imposed the tariffs on steel and aluminum, arguing … [Read more...] about Hurt by Trump’s tariffs, U.S. companies plead for exemptions